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| Diversity! |
Bullion - Silver "bug":
Someone who buys silver in whatever form, junk coins, bars, rounds etc. without regard to any collector's value. Staying as close to spot prices as possible. Dealers usually sell a little over spot price and buy at or a little under it. That is how they stay in business. Never expect to buy from a dealer at spot price. They are in business and must pay employees, electric etc.
Coins - Numismatist:
Loosely defined as a coin collector or at least someone seriously interested in coins. Coins can be considered a bullion if they are of no value beyond their silver content.
Is it silver? US dimes, quarters, half-dollars and dollars minted before 1965 were all 90% silver. Nickels had 35% silver ONLY for 1942 through 1945 inclusive. Circulation Kennedy halves were 90% silver in 1964 ONLY. Then begins the confusion for Kennedy halves!
Is it silver? US dimes, quarters, half-dollars and dollars minted before 1965 were all 90% silver. Nickels had 35% silver ONLY for 1942 through 1945 inclusive. Circulation Kennedy halves were 90% silver in 1964 ONLY. Then begins the confusion for Kennedy halves!
- Silver proofs 1992–present: 90% silver.
- 1965–1970 and some dated "1776–1976" special issues: outer layer of 80% silver surrounding a core of 21% silver, totaling 40% silver.
Sooooo. While I do have a couple newer proof Kennedy halves which are 90% silver, this isn't something I would suggest.
Stick to the basics. If it is 1965 or newer it is not 90% silver. Either that, or be prepared to educate others when trying to sell later.
Exception: The US American Silver Eagles are a bullion coin and they are all 99% silver. The newer gold eagles are 91.67% gold 3% silver and 5.33% copper. All older gold coins made for circulation until 1933 are 90% gold.
Confused yet? Me too. Just keep the date 1964 in mind. They were silver then. After that, it gets weird!
I know I am repeating 1964 over and over. It is probably the single most important thing to know about US coins. Other countries are different.
Here is a complete listing of US coins and silver content IF you must go there: http://cointrackers.com/blog/1/silver-content-us-coins/
Stick to the basics. If it is 1965 or newer it is not 90% silver. Either that, or be prepared to educate others when trying to sell later.
Exception: The US American Silver Eagles are a bullion coin and they are all 99% silver. The newer gold eagles are 91.67% gold 3% silver and 5.33% copper. All older gold coins made for circulation until 1933 are 90% gold.
Confused yet? Me too. Just keep the date 1964 in mind. They were silver then. After that, it gets weird!
I know I am repeating 1964 over and over. It is probably the single most important thing to know about US coins. Other countries are different.
Here is a complete listing of US coins and silver content IF you must go there: http://cointrackers.com/blog/1/silver-content-us-coins/
1964.